EXIM BANK FUNDS ANOTHER MINI HYDRO PROJECT IN INDONESIA

12 Jul 2013 11:19

KUALA LUMPUR, July 9 (Bernama) -- Export-Import Bank of Malaysia Berhad (EXIM
Bank) today signed a USD11.9 million Facility Agreement with PT Great Colour
Energy for the development and construction of the mini hydropower plant in
Indonesia. Through this Facility Agreement, EXIM Bank will part finance the
development of Mini Hydro project with an initial capacity of 5-mega watts in
South Sulawesi, Indonesia.
The Facility Agreement was signed by Datoâ€™ Adissadikin Ali, Managing
Director/Chief Executive Officer of EXIM Bank Malaysia and Encik Khairul Nizam
Tajul Hasnan, President Director of PT Great Colour Energy.
An investment of over USD15 million, the development of mini hydro project at
Sungai Bungin, Kabupaten Enrekang will benefit and contribute to the economic
development and domestic capacities by providing sufficient and affordable
energy in South Sulawesi.
Speaking on the occasion, Datoâ€™ Adissadikin Ali, Managing Director/Chief
Executive Officer of EXIM Bank said, â€œThis project is part of our responsible
financing scheme to help reduce the carbon footprint of the world and EXIM Bank
is very proud to be a part of this project.â€
â€œWe generate power to light up the life of humankind with the spirit to create
environmental sustainability and having a social impact to the surrounding
community,â€ added Encik Khairul Nizam Tajul Hasnan.
The USD11.9 million which is the 12-years Term Loan under EXIMâ€™s Overseas
Project Financing-i covers up to 75% of the project cost with total development
costs of USD15 million. Upon the completion of this project, PT Great Colour
Energy which is also a unit of Malaysian owned Great Colour Group will embark on
the second phase of the project with an additional of 5-mega watts.
The Bank marks another milestone in its power and energy portfolio following
similar signing earlier in May on Hydropower Plant also in Indonesia.
ABOUT EXIM BANK
The Export-Import Bank of Malaysia Berhad (EXIM Bank) was incorporated on 29
August 1995 and is wholly-owned by the Government of Malaysia. The Bank has
assisted a diverse range of Malaysian business in an equally diverse range of
sectors in their global ventures. EXIM Bank is taking pride in meeting its
mandated role of stimulating and enhancing the competitiveness of Malaysian
industries for exports and investments globally via the provisioning of
internationally and domestically competitive banking and insurance products and
advisory services.
ABOUT PT GREAT COLOUR ENERGY
PT Great Colour Energy (PT GCE) is a Penanaman Modal Asing (PMA) incorporated in
the Republic of Indonesia on 29 September 2011. The company is implementing the
development of mini hydro project in Sungai Bungin, Enrekang located in South
Sulawesi which governed under the development of mini hydro schemes known as
PLTM Bungin III with an initial capacity of 2 x 2.5MW and provisions for
additional 5MW (estimated total capacity of 10MW). The project would be
developed under the Independent Power Producer (IPP) basis.
SOURCE : Export-Import Bank of Malaysia Berhad (EXIM Bank)
FOR MORE INFORMATION, PLEASE CONTACT:
NAME : Azmin Hamzah
Assistant Vice President
Communications & Stakeholder Management Department
TEL : +603 2601 2371
FAX : +603 2601 2469
E-MAIL : azmin@exim.com.my
WEBSITE : www.exim.com.my
NAME : Ahmad Ehsan Mokhtar
Manager, Communications & Stakeholder Management Department
TEL : +603 2601 2388
FAX : +603 2601 2469
E-MAIL : ehsan@exim.com.my
WEBSITE : www.exim.com.my
--BERNAMA